PE-backed Corsa Coal to raise $7.25 mln in private placement
Corsa Coal Corp (TSX-V: CSO), a supplier of premium quality metallurgical coal, has entered into a private placement deal to generate gross proceeds of US$7.25 million. The investors include its majority backer, U.S. private equity Quintana Capital Group, as well as Canadian private equity firm Sprott Resource Corp, and two vehicles controlled by a trust settled by the late Adolf H. Lundin. Corsa also agreed to amendments to a US$25 million credit agreement with Sprott Resource Lending Corp. Based in Canonsburg, Pennsylvania, the company has an office in Toronto. Last year, Sprott Resource invested in Corsa's purchase of PBS Coals Ltd.
22 October 2015•6 mins read
